Use of electronic cards is increasing rapidly and is gaining widespread acceptance by people. There are many types of electronic cards, such as, for example, an electronic credit card, an electronic debit card, an electronic financial card and an electronic identification card. Electronic credit cards are used extensively as they provide flexibility of use for multiple purposes and users don't have to physically carry large amount of cash, which can be risky.
Recent innovations have brought significant security-related advances to the electronic cards and consumer banking industries. In the 1980s, holographic images were introduced and included on plastic card faces to deter the manufacture of counterfeit cards. More recently, some cards have been configured to include a photograph of the authorized user, thereby obviating the need for a purchaser to present separate identification and decreasing the likelihood of fraud. More recently, smart cards, also known as personal data cards or chip cards, which include a memory chip integral with the card, now provide additional security features.